Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Hawaii
HIPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,815.00
Year-over-Year Change
67.08%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the per capita personal consumption expenditures on services in Hawaii. It provides insights into consumer demand and the state's economic health.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Per Capita Personal Consumption Expenditures: Services for Hawaii metric tracks the average household spending on services within the state. This data point is a key indicator of consumer behavior and the broader economic conditions in Hawaii.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and economic models.
Historical Context
Policymakers and analysts use this metric to gauge consumer confidence and make informed decisions about economic policies and market strategies.
Key Facts
- Hawaii's per capita services spending was $31,577 in 2022.
- This metric has increased by 7.2% over the past 5 years.
- Services account for over 65% of total personal consumption in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average per capita spending by Hawaii households on services, including healthcare, recreation, transportation, and other non-goods consumption.
Q: Why is this trend relevant for users or analysts?
A: The per capita services spending metric provides valuable insights into consumer demand and confidence in Hawaii's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this data from personal consumption expenditure surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to gauge consumer behavior and make informed decisions about fiscal, monetary, and economic development policies in Hawaii.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 3 months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Hawaii (HIPCEPCHCE), retrieved from FRED.